By Admin 
Income Tax Rules 2026: The Finance Ministry has issued the official gazette notification of ‘Income Tax Rules 2026’. The rules written in this new draft of more than 2500 pages will be implemented in the entire country from April 1, 2026. These rules will replace the old Income Tax Act of 1961, that is, now the numbers of all the sections will also change. This will have a direct impact on the common man, employees, tenants, landlords and businessmen.
If the company deposits more in PF and NPS then it will have to pay tax.
If your company deposits more than Rs 7.5 lakh in a year in your Provident Fund (PF), NPS or Superannuation Fund, then the amount above this limit will be considered part of your salary and will be taxed. Besides, a new formula has also been decided to calculate tax on the interest received on that additional amount.
If you want HRA, it is necessary to give PAN of the landlord.
If you avail the benefit of HRA i.e. House Rent Allowance by submitting rent receipt, then keep in mind that if the total rent for the year is more than Rs 1 lakh, then it will be mandatory to give the name, address and PAN number of the landlord to the company. Without this, HRA exemption will not be available.
If you have got a company house then the tax will be according to the population of the city.
If the company gives you a free house to live in, then now tax on it will be levied according to the population of the city. In a city with a population of more than 40 lakh, this facility will be considered as 10 percent of your salary and tax will have to be paid on the same.
Company car, food and gifts new rules
Personal use of company car will be taxed according to the engine capacity. Tax exemption will be available on food up to Rs 200 per meal while working in office. There will be no tax on gifts up to Rs 15,000 in a year.
Don’t panic if you get pending salary (arrears) at once. Fill Form 39.
Many times, when outstanding salary, advance or old pension comes together, the income increases and the tax slab goes up. Under the new rules, special relief can be claimed by filling ‘Form 39’. The same exemption will be applicable on gratuity received after 5 to 15 years of service and compensation received on loss of job.
There is a condition on relief to those taking VRS
If you take Voluntary Retirement i.e. VRS, then you will get tax exemption on the amount received on it. But for this, either one should have completed at least 10 years of service or the age should be more than 40 years.
Relief to landlord if tenant does not pay rent
If the tenant does not pay the rent and vacates the house, then that outstanding rent will not be considered as the income of the landlord and will not be taxed. But the condition is that the landlord will have to prove that he took legal steps to collect the rent.
Complete tax exemption if the company incurs expenses on treatment of serious diseases
If the company bears the expenses of serious diseases like cancer, TB, AIDS or any surgery or hospitalization for at least 3 days, then it will get complete tax exemption. Treatment of drug addiction and mental illnesses is also included in this.
In case of disability, a certificate from a civil surgeon or neurologist of a government hospital will be required for exemption from diseases like autism or cerebral palsy. In case of diseases like kidney failure, hemophilia or thalassemia, it will be mandatory to have a prescription from the concerned specialist doctor.
Cash payment more than Rs 10,000 will not be exempted.
Attention businessmen and professionals. If someone pays more than Rs 10,000 in cash in a day, it will not be considered as business expense and tax exemption will not be available. All payments above Rs 10,000 will have to be made through cheque, UPI, card or net banking only. Payments made to farmers, villages and government will remain out of this.
Official recognition of digital payment and digital rupee
UPI (BHIM), Credit-Debit Card, Net Banking, NEFT and RTGS have been officially recognized as valid under Income Tax. And this time for the first time, RBI’s digital rupee (e-₹ i.e. Central Bank Digital Currency) has also been accepted as a valid method for tax and business transactions.
Foreign digital companies will now be taxed in India
This is a completely new rule. If a foreign company is providing software, digital services or data in India without opening an office and its annual income from India is more than Rs 2 crore or has more than 3 lakh users in India, then it will be taxed in India.
New formula for capital gain on selling shares and property
New mathematical formulas have been fixed to find the correct market price of shares which are not listed in the stock exchange. Its objective is to prevent tax evasion in the purchase and sale of property and such unlisted shares.
Form 44 will save you from double tax if you have income from abroad.
New forms and deadlines have been fixed for deducting, depositing and giving certificates of TDS and TCS. New rules of ‘Form 44’ will be applicable to avoid double tax on income earned from abroad.
Overall, this new Income Tax Rule 2026 is not just a legal change. This is an attempt to rewrite the language, calculations and methods of the entire tax system. It is important for every employee, businessman and investor to read these rules carefully before April 1, 2026.
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